The industry has introduced an array of new products, including eco-ethical offerings
Melbourne, Australia (PRWEB) July 17, 2012
The Australian Cosmetic and Toiletry Retailing industry is involved in the sale of thousands of cosmetic and toiletry brands. It has grown modestly over the past decade, boosted by healthy household consumption expenditure on cosmetics, perfumes, soap products and other toiletries. In 2012-13, the industry is expected to post growth of 2.3%. According to IBISWorld industry analyst Arna Richardson “this will come as growth in real disposable incomes recovers in line with stronger economic growth”. However, it is expected that cosmetic and toiletry retailers will still need to respond to consumer desires for functionality and value in line with the lingering effects of the economic crisis. In 2012-13, industry revenue is forecast to be worth $2.49 billion, up from $2.3 billion five years earlier. This represents annualised growth of 1.6% over the past five years.
The Cosmetic and Toiletry Retailing industry has a low level of market share concentration. This is despite the existence of franchise and corporate chains, including Priceline and the Body Shop. Australian Pharmaceutical Industries Limited is the only major company. Richardson adds “the industry has introduced an array of new products, including eco-ethical products”. These items have been developed partly in response to increasingly sophisticated consumer tastes and the rise of ethical consumerism. Having successfully evolved with changing consumer preferences, the industry is expected to continue to grow in the next few years. Technological advances will remain a key driving force, as will the willingness of Australian consumers to buy an increasing range of complex formulated products and green products, which are expected to become increasingly mainstream.
Over the five years through 2017-18, growth in Cosmetic and Toiletry Retailing industry revenue is forecast to be modest. Underlying economic, demographic and social trends bode well for the industry in the short term. In particular, an ageing population, changing community attitudes to skin care and holistic wellness and other psychological motivations will contribute to industry growth. Continued development in new fusion products and eco-friendly products will help stimulate demand for industry products. For more information, visit IBISWorld’s Cosmetic and Toiletry Retailing report in Australia industry page.
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IBISWorld industry Report Key Topics
Retailers in this industry sell cosmetics, perfumes, toiletries and personal grooming products. Industry retailers include specialty cosmetics stores, perfume and fragrance stores and beauty supply stores.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.